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"We will continue to work to make right what went wrong and remain focused on providing the accountability and oversight that our customers, employees, and investors expect and deserve." "I fully support the board's actions and believe they are critical to Wells Fargo's commitment to our customers," Mr Sloan said.

The moves announced Wednesday will total about US$32 million, adding to the US$60 million previously forfeited by former chief executive John Stumpf and departed community banking chief Carrie Tolstedt.

Wells Fargo has been under fire since September, 2016, when US regulators and the City of Los Angeles fined it about US$190 million for opening some two million deposit and credit card accounts in customers' names without their approval.

The bank said it would release the findings of an independent investigation into the matter ahead of its April annual meeting.